Do you mean the translation of the button "add new event"?
If so go to your admin panel Languages section: www.site.com/admin/languages
and type add new event in the search area. Then change the value for this key: {text key='event+add_new_button_label'}

If it's not what you're asking, please elaborate and provide screenshot of the label.

no actully I want to change in form add new event area in place of location plz help me..

thanx sir

sir I want to remove label who can view and who can invite in add new event in event plugin and  add new label plz help me sir

You want to remove what is marked in following svreenshot?

Niket, if you want to remove the items provided on the screenshot here: 

http://www.oxwall.org/ow_userfiles/plugins/base/7224-eventslabel.JPG

this is a custom code modification. 

If you remove them you won't be able to create new event. 

You will need to hire a programmer to do that for you. You can do that here: http://www.oxwall.org/market/specialists

+1 Ross

 Yes sir, i want to remove these two label in add new plugin. but as ross sir told me that if I remove them i won't be able  to create new event why..???????                                                                                        

because these are required fields and they took part in the functional of the event regarding privacy. see my reply above, please

okk sir thnx